Investing.com - Shopify (TSX:SHOP) reported first quarter earnings that missed analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.2 on revenue of $1.2B. Analysts polled by Investing.com anticipated EPS of $0.6358 on revenue of $1.24B. .
Shopify shares lost 16.08% to trade at $518.90 in intra-day trade following the report.
For the year, Shopify shares are down 11%, outperforming the DAX which is down 12.48% year to date.
Shopify follows other major Information Technology sector earnings this month
On Wednesday, Constellation Software reported first quarter EPS of $14.43 on revenue of $1.43B, compared to forecasts of EPS of $10.34 on revenue of $1.27B.
CGI Inc earnings beat analyst's expectations on Wednesday, April 27, 2022, with second quarter EPS of $1.53 on revenue of $3.27B. Investing.com analysts expected EPS of $1.51 on revenue of $3.19B
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